Here’s How to Be a Millionaire When SHIB Hits $0.005

0
18

After a lackluster performance in 2023, Shiba Inu (SHIB) seems to be turning the tide for the better. The asset is among the best-performing cryptocurrencies over the last week, rallying by 227% in the weekly charts, 287.8% in the 14-day charts, and nearly 309% over the previous month. Moreover, the asset’s price has increased by 232.8% since March 2023. Nonetheless, SHIB has faced a 9.8% correction in the last 24 hours, reigniting fears of another price plummet.

Source: CoinGecko

Also Read: Shiba Inu To Announce Launch of New Product: Will Push SHIB To $0.001?

However, there is also a possibility that SHIB could hit a new all-time high as Bitcoin (BTC) inches closer to its 2021 peak. BTC’s latest upswing has trickled into other assets, leading to a market-wide rally.

How to be a millionaire when Shiba Inu (SHIB) hits $0.005?

With Shiba Inu (SHIB) recently erasing one zero from its price, a top market analyst has uncovered the key target and support levels to watch out for going forward. Shiba Inu price erased one zero to trade at a 24-hour high of $0.00001462. Though the token had shown signs of an imminent rally for weeks, the current market momentum pushed its price to the highest level in more than 52 weeks. Judging by the current outlook, market analyst SHIB KNIGHT affirmed that Shiba Inu has surpassed all of his previous targets. To showcase the confidence in the current uptrend, SHIB KNIGHT dropped new targets and support levels to watch. Shiba Inu to $0.00001668? Per an accompanying price chart, the 3 targets and support levels unveiled are relatively bullish, as none of the latter targets shows a slump below the $0.00001 level. According to $SHIB KNIGHT, the current momentum might push Shiba Inu to $0.00001466, a price point that will slightly outpace the 52-week high. On a more promising basis, the analyst foresees SHIB soaring to $0.00001545, a level that is about 9.886% from the current level. SHIB KNIGHT is also optimistic Shiba Inu could rally as high as $0.00001668 and even beyond, per earlier projections. Though the potential timeline to achieve this feat was not highlighted, the projections have set the community on edge with pent-up anticipation of what to watch out for. Cautionary SHIB Note Amid the bullish targets, SHIB KNIGHT left room for unforeseen circumstances that might trigger a reversal in Shiba Inu’s uptrend. At the time of writing, Shiba Inu has maintained a 24-hour growth of 13.06%, taking its price and market cap to $0.00001409 and $8,285,705,642 respectively. Exactly $2,271,151,442 SHIB has been traded within the same time span. There are no guarantees that the market would not record a correction. Riding on this, SHIB KNIGHT pegged the first support level at $0.00001343 with a subsequent target of $0.00001306 if the selloffs persist. To cap his bullish disposition, the analyst believes the support zone at $0.00001258 is a formidable one for SHIB, a point at which another trend reversal might be recorded.

SHIB’s 2020-2021 rally turned many early investors into multi-millionaires and, in some cases, even billionaires. While the asset was on a downtrend since its 2021 highs, the latest rally has reignited hopes of investors making it big with the popular meme-coin.

Also Read: Wall Street Analyst Buys Shiba Inu: Says Happy It Outperformed Bitcoin

If Shiba Inu (SHIB) hits $0.005, you will need 200,000,000 (200 million) tokens to have one million dollars worth. The price of 200 million SHIB right now is about $7342. If SHIB reaches $0.005, your portfolio will grow by a whopping 13,520.27%.

Also Read: Can WIF Hit $1 Sooner than Shiba Inu? Robinhood Listing Rumors Surface

However, the journey to $0.005 is no easy task. According to Changelly, SHIB could breach the $0.005 level sometime between 2033 and 2040, about 9-16 years from now. Telegaon also paints a similar picture for SHIB, predicting the asset to hit the $0.005 level sometime between 2035 and 2040.

However, the Shiba Inu (SHIB) team is working on a new burn mechanism, rumored to remove trillions of tokens yearly. In this scenario, SHIB could reach the $0.005 price level much sooner than anticipated.

Credit: Source link

ads

RELATED ARTICLESMORE FROM AUTHOR

LEAVE A REPLY

Please enter your comment!
Please enter your name here